Toluene prices may plunge in December on feeble demand sentiments from end users.
Currently toluene prices were evaluated in the range of USD 750-770/mt CFR India and USD 690-710/mt FOB Korea.
As per report, in South China prices will soften in the coming weeks since demand in the region has weakened, while supply increased. Market source said that downstream coating sector, producers are also planning reduce output during the winter season, evaluating on demand for toluene.
Sinopec Hainan Refining & Chemical will not be buying toluene cargoes in near term as its benzene and paraxylene production has been shut for maintenance on 18 November and will resume in January 2018.
Additionally, In South China CNOOC Huizhou Refining and Chemical’s phase II aromatics will supply toluene in December after the restart. The facility has a production capacity of 340,000 tonne/year toluene and placed at Guangdong province.
